Tesla and SpaceX CEO Elon Musk, 53, has reached more than $400 billion in net worth, the highest ever for an individual. according to Bloomberg. This comes despite a Delaware judge last week's decision to cancel Musk's $56 billion Tesla pay package.
Several factors have helped the richest person in the world achieve this success.
On Wednesday, SpaceX and its investors agreed to buy $1.25 billion in shares from employees and other insiders at the privately held company, boosting Musk's net worth by $50 billion. Tesla stock is up about 65% since shortly before the election with Musk's role in the soon to be created Department of Government Efficiency (DOGE) in the minds of investors.
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Next is Musk's artificial intelligence startup xAI, which has seen its value more than double since May to $50 billion, Bloomberg reported.
All of that brought Musk's total net worth to $439.2 billion on Wednesday, according to The Bloomberg Billionaires Index.
Amazon founder Jeff Bezos and Facebook founder Mark Zuckerberg have been flips in places no. 2 and no. 3 for some time. Bezos is currently second with $244 billion, while Zuckerberg is at $219.